Situational Overview

HGP Value Add

Russell Phillips & Associates has been acquired by Jensen Hughes

Situational Overview

Russell Phillips engaged Healthcare Growth Partners to run a strategic sale auction with the objective to both maximize value and find a counterparty that would serve as a good home to the executive team and employees.

Prognosis Innovation Healthcare has been acquired by Azalea Health Innovations

Situational Overview

Prognosis is a leading EMR vendor serving acute-care facilities in rural and CAH markets. The company was experiencing growth and not specifically seeking an exit.

HGP Value Add

HGP identified Azalea Health, an ambulatory EMR vendor serving the rural market, as an excellent strategic fit. HGP made the introduction and supported Prognosis through the deal that resulted in liquidity and the potential for future equity value creation given the strong synergy potential.

Clockwise.MD has been acquired by DocuTAP

Situational Overview

Clockwise.MD, a patient engagement software provider of online scheduling and wait time transparency solutions for healthcare organizations, found an excellent strategic partner in DocuTAP that brings together the complementary strengths of both companies to form an industry leader in the on-demand healthcare market.

HGP Value Add

As a long-term strategic advisor for Clockwise.MD, HGP helped position the Company for success in their strategic sale.

High Line Health has been acquired by One Call Care Management

Situational Overview

High Line Health is a progressive value-based analytics and data visualization platform.

HGP Value Add

HGP ran a full auction process for High Line. High Line will continue to operate as a subsidiary of One Call, continuing to support and grow ACO, MCO, and employer relationships while also accelerating the pursuit of better outcomes for One Call's customers in the workers' compensation industry.

iVantage has been acquired by Chartis Group

Situational Overview

iVantage offers analytics and consulting solutions to hospitals and health systems. The company was funded by Great Point Partners, who approached HGP to advise in the pursuit of a liquidity event.

HGP Value Add

HGP ran a complete auction process that led to multiple bids from sponsors and strategics and a strategic transaction with The Chartis Group, which is backed by the private equity group Riordan, Lewis & Haden.

ClientTell has been acquired by West Corporation

Situational Overview

ClientTell is a patient communications vendor serving hospitals and physicians. ClientTell sought HGP to lead it through a sale and liquidity event for shareholders.

HGP Value Add

HGP ran a full auction process which resulted in multiple highly competitive bids. HGP worked closely with company executives and shareholders to select the buyer that best addressed the desires of shareholders and company executives.

gMed has been acquired by Modernizing Medicine

Situational Overview

gMed is a specialty EMR and PM vendor focused on gastroenterology which engaged HGP to run a sell-side auction.

HGP Value Add

HGP advised the company strategically first and when the timing was optimal, ran a competitive sell-side process resulting in the sale to Modernizing Medicine, a portfolio company of Francisco Partners.

Health Unity has been acquired by ZeOmega

Situational Overview

HealthUnity is a health information exchange vendor serving hospitals and health systems as well as payers. HealthUnity approached HGP about the pursuit of a sale or full liquidity event.

HGP Value Add

HGP ran a full and seamless auction that resulted in a competitive bidding process and a successful outcome for management and shareholders. HealthUnity was sold to ZeOmega, a portfolio company of Bregal Sagemount, to enable expansion into the hospital market.

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Sell-side

HSM Inc.has been acquired by

HSM Inc. has been acquired by Magellan Health

Situational Overview

HSM is a utilization management company focused on physical therapy, rehab, and chiro. HSM was looking for a strategic partner/acquirer who would help them to continue to grow while maintaining the existing leadership team to oversee the day-to-day operations.

HGP Value Add

HGP helped HSM find a buyer with a strong business and cultural fit in Magellan Health. HSM offered an excellent strategic fit as well, giving Magellan the ability to expand its musculoskeletal platform into an end-to-end offering.

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Sell-side

has been acquired by

Patient Prompt has been acquired by Stericycle

Situational Overview

Patient Prompt is a patient communications vendor serving hospitals and physicians. Patient Prompt was approached by multiple buyers and hired HGP to advise the company and assess strategic alternatives.

HGP Value Add

After a full auction and with multiple competing bids for the company, HGP achieved a valuation far superior to the initial bid with a higher certainty of close. The Patient Prompt management team now serves as key executives within the large and growing Patient Communications division at Stericycle.

HealthPost has been acquired by The Advisory Board Company

Situational Overview

HealthPost offers patient self-scheduling and referral management software for booking physician appointments. The company approached HGP to assess whether to raise capital or seek a sale.

HGP Value Add

HealthPost and HGP agreed to reach out to a handful of highly strategic acquirors and investors including Advisory Board, a former client and counterparty of multiple HGP transactions. HGP led a constructive and efficient negotiation resulting in a 26x revenue multiple.

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Sell-side

has been acquired by

Care Team Connect has been acquired by The Advisory Board Company

Situational Overview

Care Team Connect is a care coordination software platform serving the health system market. The Advisory Board saw the potential of the platform, which “listens” to hospital medical records and creates a step-by-step guide for patient care post-discharge.

HGP Value Add

HGP evaluated a dual-track capital raise and sale process. HGP helped investors and buyers in the process see the enormous growth potential of Care Team Connect’s platform.

Net Health has been acquired by Spectrum Equity

Situational Overview

Net Health is a specialty EMR vendor focused on wound care, urgent care, and PT. A former HGP client stepped in as CEO of Net Health and hired HGP to pursue a recapitalization of the company to position the company for growth and acquisitions.

HGP Value Add

HGP initiated the process with a strategic review, which included an assessment of strategic alternatives, identification of markets and capabilities to drive growth, and landscaping of acquisition targets, leading to a recap with Spectrum Equity as well as multiple follow-on acquisitions.

Services

SELL-SIDE M&A

HGP offers a flexible and dynamic approach designed to maximize shareholder value based on the specific characteristics and circumstances of each client and transaction. As important as it is to know seller dynamics, the HGP model is predicated on an equal understanding of buyer dynamics – including the identification of likely buyers, buyer strategic plans, acquisition plans, strategic methods, and personal relationships. By leveraging HGP’s knowledgebase, our sell-side transactions result in companies being bought, not sold. Our high success rates are achieved by delivering the right message to the right partner at the right time. Additionally, HGP offers Fairness Opinions to help satisfy the fiduciary duties placed on the board of the seller.